Moss Bros Group said its overall trading performance has improved on the prior year, in line with market expectations.
The menswear retailer saw its like-for-like retail sales, including e-commerce, were up 8.5% as its new season's ranges performing well.
Moss Bros chief executive Brian Brick said: "We are pleased that retail sales and margins have continued to improve, boosted by the increasing contribution from refitted stores and the lower levels of residual stock. Hire sales are below last year's levels, although, being 16% of overall group sales, the impact of this shortfall is more than offset by the strong performance on retail.
“E-commerce sales in the first 16 weeks of the year continue to grow strongly, with international sales now contributing to that growth, reflecting our continuing investment in systems and infrastructure. We are confident that the introduction of full multi-channel capability later this year and the added CRM capability will enable us to further exploit our position as the UK's leading men's formal wear specialist.”
Brick continued: “Our strategy of refitting stores, investing in multi-channel infrastructure and focusing on our target market and customer offer through carefully directed marketing initiatives will strengthen the Moss Bros brand and maximise profitability. We continue to remain confident about our medium term growth prospects."
